QuickBooks Online is a financial management software that helps the accountants to create invoices, helps to handle customers, and helps to track the cash flow and the sales of the business. QuickBooks Online is specially made for small-sized businesses. But now it comes in the accounting software market with some huge changes so that this software can also be used in large businesses. This software helps businesses to make profitable budgets for the future and it is very important to be aware of how to use QuickBooks Online in case if you want to start a new business.
Pros of QuickBooks Online
As we know that before starting to read about any topic it is very important to know about the pros of the topic. So take a small look at the pros of QuickBooks Online
- QuickBooks Online is cloud-based accounting software.
- It is a user-friendly software means it is very easy to use.
- It provides strong features to its QuickBooks accounting users.
- QuickBooks Online has 500+ integrations.
Cons of QuickBooks Online
Here we are going to show you the cons of QuickBooks Online. So let’s have a look at the points that are given below:
- Some users found that QB Online provides limited reports to the users.
- It is very difficult to learn for the new users because its interface is very different from the QB Desktop.
- It provides limited inventory management to its users.
- Sometimes most QuickBooks Online users found that it uses wrong due dates for their next invoices.
- Sometimes users facing syncing problems while working on QB Online accounting software.
How to use QuickBooks Online?
As we know that QuickBooks provides many functions to its users that made this software different from the other accounting software. Now we are going to talk about how to use QB Online? To use QB Online you have to read the points that are given below.
How to build your QB Online account?
To set-up QB Online account you have to follow the steps that are given below:
- Open your QuickBooks Online accounting software and set up your companies information.
- Now you have to select an accounting method.
- Select a company logo for QBO software.
- Set default payment terms.
- Finally, create your first invoice and payment processing.
How to build Job-Costing in QB Online?
If any QuickBooks user wants to build job-costing in QuickBooks Online then firstly you have to check that you have proper QuickBooks in your computer system. After this, you have created the job types before giving the jobs to the clients. Now build-up jobs for the customers and produce the bills. Finally modify your business orders regularly.
How to build income statements in QuickBooks Online?
As we know that in every business it is very important to create income statements. Now here we will show you the points that will help you to create income statements in QuickBooks accounting software. Now let’s have a look at the points that are given below:
- To start this you have to find the income statement in the QuickBooks software, according to the version.
- Now select the option of income statement report and update the income statement according to your requirements.
- Now produce your income statement.
- In the end you have to save it, print it, and send the income statement.
Undo Reconciliation in QuickBooks Online
Undo Reconciliation is done when the date of payment is recorded incorrect or statement date is also incorrect. You have to follow the steps that are given below to undo reconciliation in QB Online. So take a look at the steps below:
- First of all, open your QuickBooks accounting software in your computer system.
- Now select the option of the register from the banking menu.
- Open the list in QB Online by dropping down.
- Now click on the transaction that you need to undo reconciliation.
- Finally delete the R button.
Recommended: QuickBooks Desktop 2020
Features of QuickBooks Online
- QB Online has a basic dashboard that provides you an overview of your business financial state with charts.
- It provides a sales overview of business which tells the income and the expenses of a business.
- It also provides client portals but only for invoices.
- You can check the expenses of your business by using QBO.
- You have the freedom to add up to three users in QB Online accountant software.
- QBO also provides the feature of custom user permission in which only you can choose the number of users and set up a new role to check different areas like expenses, banking, sales, and payrolls.
We hope that you will like this blog and we also sure that after reading this blog you know about How to use QuickBooks Online? If you are still unable to know about QB Online then no need to take any tension you can get help from our QuickBooks experts. If you also are facing any type of problem while working on QuickBooks then you can connect with us at our QuickBooks Customer Service. Our experts will help you to solve your errors or also provide you the information about QuickBooks.